First Metals Adds Mining Staff
12:13 EDT Monday, October 02, 2006
TORONTO, ONTARIO--(CCNMatthews - Oct. 2, 2006) - First Metals Inc. (TSX:FMA) has reviewed various options relating to the underground development of the Fabie Bay and Magusi River Deposits in the Noranda Camp, and has elected to hire the work force directly, rather than contract mine.
In conjunction with the decision to staff up internally, the Company has hired most of the key operating personnel, including the Mine Manager, Sylvain Lessard, a Mine Superintendent, a Services Superintendent, a Comptroller, an Engineering Manager, an Electrical Consultant and other key support staff. The Company has recently purchased and is erecting a series of modular units which will form the on-site offices and dry room, in total covering, a 13,000 square foot area.
This decision was facilitated by the recent additions to the board of Directors of senior executives with operating experience. Dr. Richard Lister, Ph.D. Metallurgical Engineering and Material Science-University of Toronto, is a former Vice-Chairman of Dundee Bankcorp Inc. and Zemex Corporation and a former Chairman of Campbell Resources. Dr. Lister continues to consult and serve on several resource company boards. Mr. George Salamis, B.Sc. (Geology) Universite de Montreal Ecole Polytechnique, has over 16 years of international mining industry experience. Mr. Salamis is currently the CEO of Caledon Resources, prior to which he was Vice-President and Director of Riddarhyttan Resources AB, which has been successful in discovering multi-million ounce gold resources in Finland.
The Company is also pleased to announce that Mr. Brian Ferguson, B.Sc., P. Eng., has agreed to serve on the Board. Mr. Ferguson is a former Vice-President of Falconbridge Limited and has over 40 years of industry experience. He has developed and successfully brought to production a number of mines both in Canada and overseas. (Mr. Ferguson, as all other members of the Board, has been granted options to acquire up to 100,000 common shares of the Company prior to September 13th, 2006 at an exercise price of $1.00 per share.) There remains one board vacancy which will be filled in the coming weeks by an already identified senior executive with a strong mining engineering background.
First Metals is a mineral exploration and development company engaged in the acquisition, exploration and development of mineral prospects in Canada. First Metal's activities are currently focused on the Fabie Bay and Magusi River Projects in the Abitibi Greenstone Belt Region, near Rouyn-Noranda, Quebec, Canada.
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